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  • Does economic nationalism help strategic industries? The European case [Elektronski vir]
    Maček, Anita ; Ovin, Rasto
    The financial and economic crisis of 2008 has again tempted the European Union's (EU) most developed economies to exercise a policy of economic nationalism. These processes have been, however, more ... or less financially based and less profound than the revival of economic nationalism in 2005. Then it was triggered by a strong rise of inward cross- border mergers and acquisitions (C-B M&A) in these countries. In this article the authors test the rationale of protective policies of the European governments when nationally important industries are concerned using the results of their 2009 empirical study on C-B M&A. The study proves that C-B M&A cause more benefits than threats. On the other hand, however, at the same time the real economic policy in the EU countries offsets the fear that liberalization of inward C-B M&A would endanger national economic goals. The paper does not support such a view. By putting the results of the study into the context of the Inward Foreign Direct Investment Potential Index by UNCTAD and the Index of Investment Freedom by the Heritage Foundation, the paper supports the view that the opening of strategically important sectors to international capital movements is compatible with the goals of national policy support for these sectors.
    Type of material - conference contribution
    Publish date - 2011
    Language - english
    COBISS.SI-ID - 10556188